Revolut to Delist Polygon, Solana, and Cardano in the US
Neobank Revolut has announced that it will be removing Polygon (MATIC), Solana (SOL), and Cardano (ADA) from its trading platform in the United States. The decision is a response to the changing legal landscape and regulations surrounding cryptocurrencies.
The delisting of these tokens follows a similar move by Revolut’s U.S. crypto services provider, Bakkt. A spokesperson from Revolut confirmed that the decision was influenced by Bakkt’s delisting of the cryptocurrencies, indicating a ripple effect within the industry.
This action by Revolut aligns with the steps taken by other platforms such as Robinhood and eToro, which have also ceased trading these tokens. The decision to delist comes in the wake of lawsuits filed by the U.S. Securities and Exchange Commission (SEC) against Binance, Binance US, and Coinbase. The lawsuits allege that tokens like MATIC, SOL, ADA, and others are unregistered securities.
To accommodate its U.S. customers who still hold these assets, Revolut has outlined its plan. The company will sell the assets on behalf of its customers who have not sold their holdings before September 18. The proceeds from the sale will be deposited into their Revolut accounts in USD.